Global softbox temperature control packaging market : By Product, By Type, By Temperature Range (Up to 10°C, 10°C to 20°C and More than 20°C), By Payload Capacity (Up to 10 L, 10-20 L, 20-40 L, 40-150 L and More than 150 L), By Type of Use (Single Use and Reusable), By End-Use Industry (Pharmaceutical and Clinical Trial) and By Region - Forecast Till 2023
softbox temperature control packaging market Snapshot
As the pharmaceutical industry continues on an upward growth trajectory, it provides an impetus for the latest generation of high-performing packaging products since the quality of pharmaceutical products has a direct effect on the patient safety and efficacy of therapies. With the rise in shipment of temperature-sensitive pharmaceutical products globally, there is greater demand for innovative packaging solutions on the softbox temperature control packaging market.
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Some of the prominent players in the Self-adhesive labels market are Avery Dennison Corporation, Americk Packaging Group, Constantia Flexibles Group Gmbh, SVS Labels, and CCL Industries Inc. H.B. Fuller Company, Müroll GmbH, Coveris Holdings S.A., Royston Labels Ltd., UPM-Kymmene Oyj, Henkel AG & Co., Mondi Group, S&K LABEL spol.sare among others.
The global softbox temperature control packaging market has been segmented based on product, type, temperature range, payload capacity, type of use, and end-use industry.
By end-use industry, the global softbox temperature control packaging market has been segmented into pharmaceutical and clinical trial. The pharmaceutical segment is the largest segment while the clinical trial segment is expected to be the fastest-growing segment at a CAGR of 10.08% over the forecast period.
By region, the global softbox temperature control packaging market has been segmented into Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW).
Europe is an emerging market for temperature-controlled packaging for pharmaceutical products spurred by strict regional goods distribution practices. Additionally, the region has been a frontrunner in the field of innovation and development of novel packaging solutions. Germany is a key contributor to the Europe market where renowned companies such as Bayer, BASF, and Deutsche Post AG (DHL) have their presence. The Europe market is expected to capture a CAGR of 9.42% over the forecast period.
Asia Pacific market for temperature-controlled packaging for pharmaceutical products stores a host of opportunities for market growth. The pharmaceutical industry in China is one of the fastest growing industries in China. Increased investment in R&D coupled with increased pharmaceutical spending from the government of various countries in the region aids the growth of the market in APAC. Besides, the growing number of contract research organization (CROs) in the region acts as a plus for the growth of the market. The APAC softbox temperature control packaging market is estimated to witness a CAGR of 10.02% over the forecast period.
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